Can i sell my patent pending product [Glossary]

Last updated : Aug 21, 2022
Written by : Taunya Maclain
Current current readers : 7907
Write a comment

Can i sell my patent pending product

Can I sell a product that is patented?

The U.S. Supreme Court in a recent ruling has opined on the rights of a purchaser to use and resell patented products. The patent system give the patent owner the right to exclude others from making, using, and selling the patented invention, for the life of the patent.

Can I make something that is patent pending?

Wait for your patent to get issued. However, you cannot legally do anything about it until your patent is issued. Luckily, you can sue for damages from the date you submit your patent application to the USPTO and notify the infringer.

What happens when a patent is pending?

The patent-pending notice has no legal force in itself. The product or process is not legally protected at that point. However, it warns potential competitors that a patent application has been filed and that they can be sued for patent infringement after the patent is granted if they lift the idea.

What to do after patent is pending?

To maintain patent pending status, the patent owner must resubmit the same application for the patent before the abandonment of the patent application or grant of the patent. The resubmitted application would have claim priority back to the first patent application.

What happens if I sell a patented product?

Under the doctrine of patent exhaustion (also known as the “first sale” doctrine), the initial authorized sale of a patented product terminates all patent rights in that item. As a result, subsequent sales of the item cannot give rise to claims of infringement by the patent holder.

How much is the average patent worth?

A review of available data shows that, as of 2016, the median price paid for issued U.S. patents was about U.S.$ 225,000, while the average price paid hovered around U.S.$ 360,000.

How long is a patent pending good for?

How Long is the “Patent Pending” Status? Patent applications filed in the United States typically have “patent pending” for 1 to 3 years. However, it is not uncommon for some patent applications (e.g. software and electronic applications) to have patent pending status for 3 to 5+ years.

How much does a patent pending cost?

What Are Patent Pending Costs? The cost to get patent pending status for your invention is around $1,500 without an attorney. If you hire an attorney, you can expect to pay $10,000 or more for a utility patent and $2,000 for a design patent.

Can I sell my provisional patent?

Can you sell a provisional patent application? The quick answer is yes, it is possible. But it rarely happens. Selling a provisional patent application is the same as selling just an idea without proven market demand.

What is the difference between patent and patent pending?

What Does "Patent Pending" Mean? The most important difference between a patent pending status and holding a patent is that patent pending denotes that a patent application has been filed. "Patent pending" simply means that you have applied for, but have not yet been granted, a patent.

How much can I sell my patent for?

If the corporation makes an offer, it will typically be anywhere from $50 thousand to $8 million, and can be higher. On the other hand, an inventor trying to simply market an issued patent to corporations, is likely to get anywhere from $5,000 to $35,000.

Who will buy my patent?

  • Free Marketplaces. Patent Mall.
  • Paid Marketplaces. IAM Market.
  • Patent Brokerage Marketplaces. ICAP Patent Brokerage. IP Trader.
  • Programs for Patent Owners. Marathon Patent Group.

What percentage of patents make money?

Analysts report that more than 95% of patents are worthless-- not because patents as a class are worthless, but because companies fail to understand one simple principle that makes patents powerful. To understand, it is helpful to take a step back and first consider the differences between strong and weak patents.

What is a poor man's patent?

A poor man's patent is essentially writing out a description of your invention and then mailing that written description to yourself. This postmarked envelope supposedly acts to create the date of your invention as the date this written description was postmarked.

What is the most valuable patent of all time?

Alexander Graham Bell was granted a patent that recognized him as the sole inventor of the telephone, US patent no. 174,465, eventually became known as “the single most valuable patent ever issued in the history of the world”.

How much do patent owners make?

When licensing a product, the owner of the patent can retain that ownership and receive royalty payments for all future product sales. Average royalty rates are between 5 and 20 percent, so the product will have to take off and sell very well in order to offer a good return for the patent holder.

Why are patents pending for so long?

Many patents are pending for several years. The processing time is lengthy because the USPTO has a big backlog of applications. With a utility patent application, expect to wait two to five years for the USPTO to grant a patent. Expect a shorter wait for design patents.

How much is a 20 year patent?

The full cost of obtaining and maintaining a U.S. patent over 20 years is in the range of $20,000 to $60,000. This sum is influenced by the type of technology being patented; the number of claims and drawings included in the application; the number and nature of rejections from USPTO; filing fees, etc.

Does a poor man's patent hold up in court?

Even under the old system, i.e., the “first to invent” system, a “poor man's patent” standing alone, i.e, without a patent application, was worthless. You cannot access the court system and ask a judge or a jury to enforce a right that the U.S. Government does not even recognize as a right.

What is the cheapest way to get a patent?

  1. Do-It-Yourself (Draft it and File it Yourself)
  2. Cost of Filing It Yourself.
  3. Still To Expensive?
  4. Cost of Filing It Yourself.
  5. Fiverr & Other Low Cost Options.
  6. If Budgets Allow - The Better Option Is to Use an Attorney.
  7. The Cost of An Attorney.

more content related articles
Check these related keywords for more interesting articles :
How to stop copyright in excel
How to register your trademark internationally
Font awesome copyright logo
Does trademark require registration
What can be trademarked in canada
How to register a trademark business name
Intellectual property protection us
How to draw brand identity
Trademark last listed owner
How to gain intellectual property rights
Which intellectual property law would best protect his recipe
How to register patent worldwide
What is intellectual property brainly
How to look up patent prosecution history
Objective of patent law in india

Did you find this article relevant to what you were looking for?

Write a comment

Can i sell my patent pending product

Comment by Bobbie Vinsant

now willard m would like to know um is a patent pending document something that can be sold yes absolutely so what companies are paying you for is it's it's called the priority date and i'll real quick i'll explain how patent pending and priority works like say inventor here's a timeline uh this is uh let's say june 2020. say uh uh adam let's say it was used a files a provisional patent in june 2020. now uh in august 2020 bob follows a patent he's b the beauty of patent pending is that as long as within 12 months and that's where the 12-month time period comes in as long as sometime within 12 months a files then a trumps b and then adam trumps bob and adam has rights to the idea so the the short answer to whether patent pending uh is provides rights is absolutely but here's here's a little bit longer answer and i know we're almost out of time so i'll make this quick everybody is zoomed out these days because of the pandemics so one promise i make is that we end it at one sharp but uh what you have if a's application is not done right then he goes along feeling fully protected for a year and then bam he loses rights to b because b argues that a should not be given protection because a is not even though they filed first they did not file a enabling application under 35 usc section 112 so it has to be enabling it has to be filed right it's just like if you go to a bingo game they don't give you the prize because you yell bingo you have to go up front and show them your card and you have to show them that your letters and your chips line up only then are you declared the winner patents are the same way it's great that you filed first but what did you file first so somebody needs to to go over it and uh verify that a actually had the idea before b because what if a left out critical components or if it was not written by a patent attorney or written by an attorney that didn't take the time to write it properly then you're at risk of the second inventor second to file can win i love the terminology first to file it's a little bit misleading because it's not just the first to file a piece of crap that wins it's the first to file a fully enabling application

Thanks for your comment Bobbie Vinsant, have a nice day.
- Taunya Maclain, Staff Member

Comment by holassa5

applying for a patent with the US Patent and Trademark Office and getting a patent pending does not legally protect you from infringement you must be careful when presenting your invention to others to minimize your risks people do not want to spend the money to copy your product if they know there is a potential for a lawsuit some investors spend a lot of money on the patent process only to find out that their product is not patentable you should get a patent attorney involved in the process early on competition is a real threat however it is rare for a company to actually spend money to knock off a product in the idea stage an alternative to a patent is registering a trademark it cost significantly less money and comes with additional benefits you can assert the trademark by using the TM symbol after your products name as an additional protection to product knock-offs reserve all domain names that are close or similar to your product inventors typically make money in one of two ways licensing their invention to another company or manufacturing the invention themselves you need to have a strategy for selling this is true whether you are licensing or manufacturing your patent pending product selling online is very different from creating an in-store setup to sell your product each requires a detailed description of what your product is and what it does however the messaging should be as concise as possible consumer education is a major hurdle to jump this is why product packaging is so important it takes the USPTO a long time to review your patent application during the review process your product is patent pending you can claim this status as soon as your patent application is submitted however this does not grant you legal protection protecting a product when going to market is full of legal situations the way you treat these situations can affect your invention and its success forever some of these mistakes includes selling your invention too early using your invention in public with no intention to patent not keeping good records of the invention or not performing a professional patent search not everyone that applies for a patent intends to sell a product sometimes it is more profitable to sell fee this is possible even before the patent issues you can even sell your idea and transfer the patent application to a new person one of the easiest ways to minimize your risks when selling patent pending products is to hire a patent attorney Oh

Thanks holassa5 your participation is very much appreciated
- Taunya Maclain

About the author